Australia's Nuclear Power Plan Could Raise Electricity Costs

Australian Energy Minister Chris Bowen has criticized the opposition's nuclear power plan, warning it could lead to a 49% shortfall in electricity supply by 2035 due to defunding and freezing renewable energy investments. A report from the Institute for Energy Economics and Financial Analysis estimates that the Coalition's plan to build seven nuclear reactors could increase average household electricity bills by $665 annually, with families potentially facing increases of up to $972. The Coalition disputes these figures, with Peter Dutton questioning their credibility and the basis for Bowen's claims. Experts suggest nuclear-generated electricity costs could be 1.5 to 3.8 times higher than current rates, with construction costs reaching $90 billion. Despite these warnings, Dutton is set to outline his nuclear plans in a speech, although he has not provided detailed costings. The debate highlights the ongoing contention between renewable energy strategies and nuclear power in Australia's energy future.